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AbbVie (NYSE:ABBV) Trading Down 1.1% - Time to Sell?
AbbVie (NYSE:ABBV) saw its stock price drop 1.1% after receiving a Complete Response Letter from the FDA regarding trenibotulinumtoxinE due to manufacturing concerns, delaying its commercialization. Despite this setback, the company is investing in a new $1.4 billion drug-manufacturing campus and has entered a licensing deal for pain medicines, while analysts maintain a “Moderate Buy” consensus with a target price around $253, viewing it as a dividend opportunity. Insider selling was reported, with two executives reducing their holdings in the company.